100,000 alance sheet of Hopeful Ltd. as at 31st March, 2016 was as follows: 3. The balance sheet of Hopefi Equity and Liabilities , Equity Share Capital: 1,00,000 shares of 3 10 each 8 called up 10% Preference Shares Capital (Shares of 100 each fully paid up) Surplus (Negative) in the Statement of Profit and Loss Unsecured Loan Trade Creditors Bank Overdraft Assets Goodwill Land and Building 8,00,000 Plant and Machinery Investments Stock 4,00,000 Trade Debtors Cash at Bank (4,00,000) 1,60,000 1,40,000 50,000 11,50,000 45,000 3,50,000 3,00,000 40,000 1,80,000 2,10,000 25,000 11,50,000 te : Dividend on preference shares has not been declared for two years. Lollowing scheme of reconstruction has been approved by the court: ) Uncalled capital is to be called up in full and equity shares are reduced to 35 each. (ii) Preference sharehol eterence shareholders have aged to give up their right for the two years! end and accept 12 equity shares of 5 each for each fully paid prefer ence share. W woodwill and profit and loss account are to be written off. Trade creditor are to forego 10% of their clar vestments are to be taken over by bank in full settlement of the overdraft balance. (V1) Plant and Machinery and stock are to be reduced by 90,000 and 2 49.00 respectively. Pass journal entries and prepare the balance sheet after reconstruction [B.Com. Delhi, 2008, Modified n i l Docerie 100 000- Balans